Civil Engineering Reference
In-Depth Information
4.2.1 New Frontiers
Ideas which need to be developed include:
• International connections for ideas—building international technology networks
that focus on a single sector to try to increase the intensity of commercialisation
of ideas by cross licencing arrangement and broadening the exposure of the
ideas to the early stage equity market.
• Building networks that connect corporate venturing activities to pre and full
incubation programmes.
• Helping governments deliver funding programmes to high growth companies
that are active in technologies that have a national priority.
4.2.2 Entrepreneurship
This presence in a business community of entrepreneurs is a critical ingredient. If
there are high numbers of entrepreneurs with a broad range of skills that are able to
both identify business models to develop technology for the market and wrap the
right skilled workforce around the technology the greater the chance of success.
Ideas that are now being supported by science and technology parks to help
encourage entrepreneurship include the formation of a number of entrepreneur
clubs at universities which are concerned with building a culture and ethos of
entrepreneurship among students. The experience at Surrey is that an ''entrepre-
neur in residence'' is now working in the University's Business School to support
the University, its students and the Surrey Research Park.
4.2.3 Early Stage Funding
A model for funding technology transfer that is gaining momentum in the UK is
based on a contractual relationship between a host organisation and private equity
capital group. Around ten universities in the UK have signed such an exclusive
arrangement with the IP Group. The business model values the IP at a pre-
determined value, the IP Group take an agreed proportion of this and then work
with the IP to develop its commercial potential.
A similar programme associated with government research laboratories has
been established through a privately managed evergreen fund (Rainbow Fund) that
provides support to ideas which have commercial potential.
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